Last week a new report was released that detailed a “stunning” production forecast for the Permian. The Permian is forecasted to more than double its 2017 oil production level of 2.5 MMb/d to 5.4 MMb/d by 2023, according to IHS Markit.

However, there is a sticky problem in the Permian that producers are facing and it’s getting more acute by the day—it’s the inability of takeaway capacity to keep up with skyrocketing oil and natural gas production in the basin.

However, one Permian producer WPX Energy (NYSE: WPX) has managed to distance it...

Effective Rig Count up on reported rig counts EnerCom has released its latest Effective Rig Count, examining the state of drilling activity and the reported production from the major shale basins. The Effective Rig Count rose in October, reversing the past month’s decline. The Effective Rig Count is currently 2,780, up 14 from last month. This increase was entirely due[Read More…]